2 New Bills Would Slash Taxes for Older Americans

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 If this legislation becomes law, millions of retirees would see their tax bills fall. 

Two bills recently introduced in Congress would sharply drop federal income taxes for many older Americans. If they become law, millions of retirees would benefit at a time when many are struggling to stay on top of rising costs. Here is what is being proposed — and what happens next. What this legislation does: People who are 65 or older, or blind, get a boost to their standard deduction.

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